Press Release

Brazil: Eneva expands gas reserves to 47.528 billion m³

Bnamericas Published: Thursday, February 02, 2023

This is an automated translation of the original release published in Portuguese.

By Eneva

February 2, 2023

Eneva, an integrated energy company, which operates from exploration and production (E&P) of natural gas to the supply of customized solutions, currently holds the largest area under exploratory concession onshore in Brazil, with 62,380 km², incorporated 12.035 billion of cubic meters (Bm³) of natural gas to its proven and probable reserves (2P), in 2022. With this addition, Eneva's 2P reserves reached the mark of 47.528 billion m³.

The result was audited by the independent consultancy Gaffney, Cline & Associates, Inc. (“GCA”), responsible for the Executive Audit Reports of Reserves and Resources of Fields, Areas and Blocks of Eneva in all areas in which the company has a stake, in the Parnaíba (MA), Amazonas (AM) and Solimões basins (AM).

“Eneva continues to apply the best practices in the exploration, development and production processes of natural gas fields. The increase in our reserves is of great strategic significance for the company in the north of the country, enabling the expansion of our R2W model, the Reservoir to wire, and our distribution of LNG by road modal to industrial customers,” says Fausto Caretta, Director of Exploration, Development and Construction of Eneva.

The biggest growth in volumes, of 7.490 billion m³, compared to the previous year, occurred in the Amazon Basin, which now has 14.455 billion m³ of gas reserves. It is in this basin that Eneva is developing the Azulão 950 project, which will have the Azulão I and II Thermoelectric Power Plants (UTE) Azulão I and II, after winning two Capacity Reserve Auctions by the National Electric Energy Agency ( Aneel ) in lots relating to the North Region.

In the Parnaíba Basin, where the company's largest gas and electricity production complex operates, the expansion was 4.545 billion m³, from 2021 to 2022. As a result, the total volume of reserves in Maranhão stood at 33 billion m³.

The overall net increase in reserves (difference between discoveries and production) of the company closed at 10.966 billion m³ in the year, which made the Reserve Replacement Index (IRR) reach the total mark of 1,125%, at the end of last year. Specifically in the Amazon Basin, the index was 5,238%. While, in Parnaíba, the rate was 490%. This means that, if the average annual production of the last five years is maintained (1.260 billion m³), Eneva is capable of extracting gas from its reserves in Maranhão for more than 26 years.

The main incorporations occurred due to the declaration of commerciality of Gavião Mateiro, in the Parnaíba Basin, and Campo de Azulão, in the Amazonas Basin, where the company obtained positive results in the five development wells drilled in the area.

Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects in: Oil & Gas (Brazil)

Get critical information about thousands of Oil & Gas projects in Latin America: what stages they're in, capex, related companies, contacts and more.

Other companies in: Oil & Gas (Brazil)

Get critical information about thousands of Oil & Gas companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Companhia de Gás do Espírito Santo  (ES Gás)
  • The description contained in this profile is taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been machine tran...
  • Company: i.Systems S.A.  (i.Systems)
  • The description contained in this profile is taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been machine tran...
  • Company: Karoon Petróleo & Gas Ltda.  (Karoon Brazil)
  • Karoon Petroleo & Gas Ltda. is a Brazilian subsidiary company of Karoon Gas Australia Ltd. incorporated in 2008, which is mainly engaged in the exploration and extraction of oil...
  • Company: Petróleo Brasileiro S.A.  (Petrobras Brasil)
  • Petróleo Brasileiro SA (Petrobras) is a state-controlled Brazilian mixed capital company founded in 1953 in Rio de Janeiro that is dedicated to oil and gas exploration; producti...
  • Company: Raízen Energia S.A.  (Raízen)
  • Raízen Energia S.A., a JV between Anglo-Dutch giant Royal Dutch Shell Plc and Brazilian biofuel major Cosan S.A., offers sugar and ethanol products in Brazil. The São Paulo-base...
  • Company: PJSC Gazprom do Brasil  (Gazprom do Brasil)
  • PJSC Gazprom do Brasil is the representative office for Brazil of Gazprom, the global energy company based in St. Petersburg, Russia. Gazprom focuses on geological exploration, ...
  • Company: Honeywell do Brasil, Ltda.  (Honeywell Brasil)
  • Honeywell do Brasil, Ltda. is the local branch of US firm Honeywell International Inc. The Sao Paulo-based firm has 13 facilities in the country which include three manufacturin...
  • Company: Consorcio Saipem y BW Offshore
  • The Saipem and BW Offshore Consortium is a partnership formed by BW Offshore do Brasil Ltda. and Saipem of Brazil Petroleum Services Ltda. for the execution of the FPSO Gato do ...